IGI’s financial strength ratings reaffirmed by S&P Global
International General Insurance Holdings Ltd (IGI) has announced that S&P Global Ratings has affirmed its financial strength ratings at A- with a Stable outlook.
The ratings apply to IGI’s two subsidiaries International General Insurance Co. Ltd. (Bermuda) and International General Insurance Company (UK) Ltd.
The key factor cited by S&P in affirming IGI’s ratings was an improved competitive position, elevating that position to “strong” from “satisfactory” a year ago. S&P noted IGI’s financial outperformance relative to other 'A-' rated reinsurer peers, while growing and diversifying its premium base.
IGI President Waleed Jabsheh said, “We are pleased that S&P has reaffirmed our financial strength ratings at A- with a Stable outlook, and particularly gratified by the recognition of the quality growth and continued diversification we achieved in 2020. In addition to the new business written in the U.S. through our E&S license, we introduced new marine lines products, and most recently announced our entry into the global contingency market. We are continuing on this path of profitable growth and diversification in 2021, while maintaining our focused and judicious approach to underwriting new risks.”
Authored by IGI
About IGI
Established in 2001, International General Insurance (IGI) is a global privately-owned specialist commercial insurer and reinsurer. Our vision is to be the company of choice for clients and brokers through market-leading service and our reputation for stable management and capital security.
A diverse and highly experienced team of underwriters operates our office in London. We also have offices in Dubai, Amman, Casablanca and Kuala Lumpur.
Our diverse portfolio of specialty lines includes Energy, Property, Construction & Engineering, Ports & Terminals, Financial Institutions, Aviation, Professional Indemnity, Political Violence, Legal Expenses, D&O, Casualty, Forestry and Treaty Reinsurance.
Standard and Poor’s upgraded our financial strength rating to “A- “, with a Stable outlook. A.M. Best rated the company A- (Excellent), with a Positive outlook, stating, “the revised outlook reflects IGI’s consistent record of very strong operating performance and the continuous improvement in its enterprise risk management framework.”
We take pride in providing proactive claims management, coupled with open communication, leading to the efficient handling of claims. We endeavour to act fairly and honourably in our relations with clients and brokers.